If speed isn’t your current business strategy, it should be. Today’s market demands fast action on all fronts, from your company’s supply chain management to its product development pipeline. In the digital age, your business’ momentum is directly related to your success. It’s a fact that if your company isn’t moving in on opportunities swiftly, the competition surely will.
Incorporating eSignature technology like DocuSign is a simple, effective way to enhance the speed of your operations. Promote the growth of your company and see more success with DocuSign’s Digital Transaction Management platform in the following ways.
Acceleration of approvals
On average, businesses stand to lose up to 30 percent of revenue to costs incurred because of operational inefficiencies. DocuSign helps organizations reduce inefficiency by slashing the time it takes to approve a variety of documents.
DocuSign’s platform can help your company complete internal documents faster, leading to faster implementation of new processes, policies, or partnerships that can make your company more competitive in the market. Externally, eSignature technology allows your business to obtain signatures from clients with the click of a button, increasing your sales team’s velocity, effectiveness, and customer satisfaction rates.
More time for better onboarding processes
A well-organized and efficient onboarding program may help improve your firm’s employee retention rates, and DocuSign technology is a useful tool for streamlining the process. When a new hire begins a job with a company, there’s often a push to put him or her to work as fast as possible to meet operational needs. However, studies indicate that 1 in 25 workers leave a position at a new company because of poor quality or nonexistent onboarding processes. This is a significant waste of HR time, energy, and resources, as well as employee talent.
DocuSign allows many routine onboarding tasks to be completed quickly and easily, allowing new employees to start training ASAP in their core job responsibilities. The time saved from filling out and signing HR forms online leaves more time for effective training and professional development that position new employees for long-term success with the company.
Fast access to information
Labor is usually the largest expense for most businesses, and it essentially equates to employee work time. Some estimates indicate that employees will dedicate as much as 20 percent of their time to searching for misplaced paper documents—a massive waste of time, effort, and your company’s budget.
DocuSign’s Digital Transaction Management platform increases the velocity of your business by giving employees quick access to important contracts, agreements, invoices, and a plethora of other documents. The security-compliant platform keeps the sensitive information in your documents safe while allowing your employees easy, quick access. Employees can work more quickly and efficiently when they spend less time sifting through papers.
Ability to monitor the progress of documents sent for signing
Obtaining signatures for multi-party agreements and other contracts can take a long time—that’s hours, days, and even weeks that hold back the flow of progress and slow your business down. Additionally, companies that rely on paper-based operations often need to ferry an agreement back and forth between parties, requiring travel time and leaving many people unsure of the document’s status at any given moment.
DocuSign’s eSignature technology allows a company to track the progress of multiple parties, showing the users who have and have not signed off on a document. Additionally, a user is notified if any signer fails an authentication check, declines to sign, or cancels. Business agreements can be signed and executed sooner with DocuSign technology because of the way it tracks the document’s path toward completion. With a click of a button, users can send a reminder to any party that the document lacks a needed signature.
Data entry error prevention
Errors made while filling out legally-binding paperwork can send progress reeling off course, requiring your business to revise or resend physical copies of documents, which in turn requires twice the amount of work. Using a tool to help prevent costly, time-consuming errors can help your company maintain its business velocity when putting important contracts or agreements in place.
DocuSign allows users to add over 15 different field markers and a wide variety of tags to a document, making it simple for signers to understand what action or information is required of them. In addition, DocuSign will not allow a document envelope to be marked as “completed” unless all required fields are filled out and all signatures are authenticated. These checks reduce the incidence of error and keep business flowing smoothly.
Compliance with legal security standards
Companies that use DocuSign benefit from a product that follows Public Key Infrastructure standards and is ISO 27001 and SSAE 16 certified. Documents signed via DocuSign are recognized by legal systems in nearly every country around the world, and can also be used in court in a much more dynamic way than the traditional signature committed to paper.
In this respect, DocuSign accelerates the speed of your business by offering users a product that can be relied upon to meet stringent standards. DocuSign products help prevent fraud and forgery, and in many instances are more reliable in legal cases than the traditional handwritten signature. DocuSign’s security standards help your business further streamline its internal processes, leading to more efficient operations.